Hollande unveils raft of austerity measures ahead of social reform

French President François Hollande has set out his policy agenda for the next two years, announcing a series of austerity measures to rein in the country’s huge public debt burden while putting social justice reforms on the back burner until 2014. "I'm not going to do in four months what my predecessors haven't done in five or ten years," said Hollande, whose opinion poll ratings have collapsed amid mounting unemployment and a stagnating economy. He presented his programme in a live television interview Sunday, when he also confirmed the introduction of a 75% tax on top incomes.

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